Celebration Inflation: We're Partying Harder Than Ever and Companies Love itby and
Every other week, hosts Jenny Kaplan and Lindsey Rupp guide you through the consumer universe, breaking down what's going on with all the things people buy.
The holiday season is almost upon us. But these days it feels as if we're always celebrating. When it's not Halloween or Thanksgiving or Christmas, it's Valentine's Day, St. Patrick's Day, National Margarita Day, National Siblings Day or National Pet Day. Companies have even created their own corporate holidays to get in on the action, such as Black Friday or Amazon Prime Day.
This week, Jenny and Lindsey dig into a phenomenon they call celebration inflation. People may be skipping the mall these days, but they're happy to shop if it means snapping the perfect Instagram picture or throwing a``Pinterest perfect'' party. We're spending more on events, whether they're nationally recognized days or other celebrations such as birthdays, weddings and bachelorette parties. Jenny and Lindsey explore the growing industry surrounding celebrations to find out why our partying patterns have changed and who is benefiting.
Bloomberg's Nick Turner and Shelly Banjo talk about their personal experiences with the festive craze and how companies are reacting while Spencer Soper helps figure out the appeal of Amazon Prime Day. Scott Novis, the founder of Game Truck, explains the consumer changes driving his business and Michelle Bachman, co-founder of Little Miss Party Planner, describes what it's like to be in a business where childrens' birthday parties average $100 a head.